It certainly feels like the New York Yankees have made a lot of significant moves this offseason. After all, they’ve swung multiple trades that have netted them the likes of Alex Verdugo, Trent Grishman and Juan Soto.

But what’s surprising is the Bombers still haven’t spent a single dime on MLB free agency. That was pointed out by MLB Trade Rumors on January 1. New York was one of four teams who entered 2024 without signing a big-league free agent. They were joined by the Chicago Cubs, Miami Marlins and Colorado Rockies.

Nobody knows if that’s something general manager Brian Cashman can keep up until the start of spring training. Just in case, though, he’s been engaged in the trade market for another starting pitcher.

USA Today’s Bob Nightengale made 10 predictions on January 7 for the remainder of the offseason. One of them was that the Yankees would add another arm to their rotation. He mentioned New York being engaged with the Chicago White Sox regarding Dylan Cease despite their current unwillingness to meet the high asking price. Nightengale also mentioned the Yankees having discussions with the Miami Marlins for Jesus Luzardo and the Cleveland Guardians for Shane Bieber.

Ken Rosenthal of The Athletic reported on January 5 that New York has a “sincere” interest in Cease. The club’s potential interest in Luzardo was first floated in a January 3 report from ESPN’s Jeff Passan. As for Bieber, Nightengale’s report seems like the first time he’s been connected to the Bombers.

Yankees’ Recent Whiffs and Current Hopes in Free Agency

Cashman’s white whale heading into this offseason was Japanese starting pitcher Yoshinobu Yamamoto. They were in the running for his services until the very end, but the right-hander opted for the Los Angeles Dodgers on a monster 12-year, $325 million deal.

The Yankees have also been linked to free-agent Jordan Montgomery since as early as November 23. A reunion with their 2014 MLB Draft selection is looking less likely, though. It seems like the lefty’s preference is to re-sign with the Texas Rangers.

According to NJ.com’s Randy Miller, New York has no interest in Shōta Imanaga. However, reigning National League Cy Young Award winner Blake Snell has privately expressed an interest in coming to the Bronx, per a January 4 report from SNY’s Andy Martino.

New York’s Rotation Desperately Needs Depth

Knowing Soto could sign elsewhere in free agency next winter is a motivating factor for New York to go all-in for 2024. So, it makes sense that Cashman is pursuing opportunities in both free agency and the trade market.

However, one can imagine that if he had to choose, Cashman would rather sign a free agent. Bieber is set to become a free agent himself next winter, while both Cease and Luzardo still have multiple years of team control left. That would hypothetically be enticing, but it’d also mean a higher price to acquire them.

New York sent three minor-league pitchers to the Boston Red Sox in exchange for Verdugo. Their deal with the San Diego Padres was the back-breaker, though. To get Grisham and Soto, the Yankees parted with catcher Kyle Higashioka, as well as pitchers Michael King, Drew Thorpe, Jhony Brito and Randy Vasquez.

Thorpe was one of New York’s top pitching prospects. King, Brito and Vasquez all made starts at the big-league level in 2023. So, while the Yankees probably don’t want to part with more prospects to supplement their rotation, they’re clearly open to doing it if that’s the best way for them to fill out this area of the roster.